E-LAND’ STRATEGY IS NOT ONLY LONG-TERM INVESTMENT IN TCM SHARES
From 14/8/2009, all of 10,364,942 TCM shares which was issued to strategic partner E-Land Asia Holdings (Singapore) under E-Land Group (Korea) will be officially listed on HOSE… This event mark the first step of strategy which E-Land join in Thanh Cong Textile Garment – Investment – Trading Join Stock Company (TCG) In the next, as the plan was approved by annual shareholders meeting 2009, TCG has complete records filed to submit SSC for register issuing individual 6,000,000 TCM shares more for strategic partner E-LandAfter being accepted by SSC, E-Land will implement procedures to increase the number of TCM shares which they hold on up to 16.364.942, own about 40% capital of TCGThis is the commitment for long-term investment from E-Land Group to TCG. With the rate of ownership is quite high, E-Land is not only a bigest shareholder but also directly involved in the management and administration business activities of the company. This is a success by TCG strategy calling for capital investment and management sources from foreign investors through the issuance of stock. Cash flow over VND160 billion pour into TCG together with strengthen capacity and management experiences from Korean leading fashion and retail group will bring the resonant force to TCG, especially in current moment.Mr.Lee Eun Hong – General Director of TCG, also is Strategy Director of Eland Group, said: “I believe our investment will be hugely beneficial to all the shareholders of Thanh Cong as well as E-Land”